MONTREAL — Swedish private equity firm Altor says it has signed a deal to acquire a significant majority stake in hockey equipment maker CCM Hockey from Birch Hill Equity Partners.

Under the deal, CCM’s management will also reinvest in the company. Financial terms of the agreement were not immediately available.

Altor says it will support CCM and existing management to accelerate and unlock growth opportunities.

“We are excited to partner with the management team and accelerate the growth journey for CCM,” said Andreas Källström Säfweräng, partner and head of the consumer sector at Altor.

“Together we will continue the tradition of making sure that all players and goalies are represented in the best possible way in the sport they love.”

CCM was established in 1899 and is a leading designer, manufacturer and marketer of hockey equipment, accessories, figure skates and apparel.

Star players using CCM gear include Auston Matthews, Sidney Crosby, Connor McDavid, Thatcher Demko and Sarah Nurse.

The deal is expected to close by the end of the year and is subject to customary closing conditions, including regulatory clearances.

The deal for CCM comes after the owner of rival Bauer Hockey announced earlier this week that affiliates of Fairfax Financial Holdings Ltd. will acquire controlling interest in its overall business.

Peak Achievement Athletics Inc. did not reveal the value of the deal, but said the transaction will hand Fairfax an equity interest previously owned by asset management company Sagard Holdings Inc.

Fairfax and Sagard acquired Bauer out of bankruptcy in 2017, paying $575 million for the sports equipment manufacturer.

This report by The Canadian Press was first published Oct. 2, 2024.

The Canadian Press